Morgan Stanley Increases Mattel (NASDAQ:MAT) Price Target to $22.00

Mattel (NASDAQ:MAT) had its price objective upped by Morgan Stanley from $21.00 to $22.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on MAT. DA Davidson reissued a “buy” rating and set a $27.00 price target on shares of Mattel in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Jefferies Financial Group upped their target price on shares of Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.75.

Mattel Stock Performance

Shares of MAT stock opened at $19.00 on Thursday. The stock has a market cap of $6.46 billion, a PE ratio of 20.65, a P/E/G ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.81 and a current ratio of 2.58. Mattel has a 1 year low of $15.87 and a 1 year high of $20.48. The stock has a fifty day moving average price of $18.97 and a 200 day moving average price of $18.27.

Mattel (NASDAQ:MAT) last posted its earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. Mattel had a net margin of 5.94% and a return on equity of 25.72%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Mattel will post 1.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Mattel by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,685,291 shares of the company’s stock worth $231,487,000 after buying an additional 180,855 shares during the period. Barington Capital Group L.P. boosted its position in Mattel by 25.3% during the 2nd quarter. Barington Capital Group L.P. now owns 595,000 shares of the company’s stock worth $9,675,000 after purchasing an additional 120,000 shares during the period. SG Americas Securities LLC acquired a new stake in Mattel in the 2nd quarter valued at $312,000. Van ECK Associates Corp raised its position in Mattel by 181.0% in the first quarter. Van ECK Associates Corp now owns 220,845 shares of the company’s stock valued at $4,375,000 after purchasing an additional 142,266 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Mattel by 292.6% during the first quarter. Tidal Investments LLC now owns 83,462 shares of the company’s stock worth $1,653,000 after purchasing an additional 62,204 shares in the last quarter. Institutional investors and hedge funds own 97.15% of the company’s stock.

About Mattel

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.